RBI Governor Rajan keeps suspense on extension of his tenure

Mumbai: Keeping the suspense alive,RBI Governor Raghuram Rajan today said he will not be “cruel” to spoil the speculation over his extension, a decision on which is to be taken after consultation between the government and the incumbent. Anticipating a question on extension of his tenure after the current three year term comes to an end on September 4, Rajan said he has come with a prepared statement on the issue to the press conference on the second bi-monthly monetary policy for 2016-17. “Seriously, in such cases a decision is reached after discussion between government and the incumbent. I am sure you will know when there is news,” he said.

Refusing to reveal his mind on a second term, Rajan said he was “personally intrigued by all the letters I am supposed to have written” on the issue. There have been reports ranging from his desire not to seek a second term to his writing to policymakers to put an end to being dragged in the political slug fest over the issue. “As far as the question of my continuing in the position after September 4 goes, it would be cruel of me to spoil the fun that press is having with all its speculation,” Rajan said. He said he can only point to the statements made by Prime Minister Narendra Modi as well as Finance Minister Arun Jaitley on the issue. Jaitley had in an interview to PTI last week denounced any personal attack on Rajan saying the debate should be about the issues and policies, and not about the personalities.PTI